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Bursa Announcements

Date: 04 May 2018

PROPOSED ACQUISITION OF A PIECE OF LEASEHOLD LAND UNDER THE SEA


Type Reply to Query
Reply to Bursa Malaysia's Query Letter - Reference ID IQL-03052018-00002
Subject PROPOSED ACQUISITION OF A PIECE OF LEASEHOLD LAND UNDER THE SEA
Description PROPOSED ACQUISITION OF A PIECE OF LEASEHOLD LAND UNDER THE SEA WITH THE SIZE OF 154.2 HA. (381 ACRES) ON THE LAND TITLE HS (D) 71881 PT 73171 AT PULAU INDAH, PORT KLANG ("LAND") BY WESTPORTS MALAYSIA SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY FOR A TOTAL CASH PURCHASE CONSIDERATION OF RM116,185,497.12 ("PROPOSED LAND ACQUISITION")
Query Letter Contents

PROPOSED ACQUISITION OF A PIECE OF LEASEHOLD LAND UNDER THE SEA WITH THE SIZE OF 154.2 HA. (381 ACRES) ON THE LAND TITLE HS (D) 71881 PT 73171 AT PULAU INDAH, PORT KLANG ("LAND") BY WESTPORTS MALAYSIA SDN BHD, A WHOLLY-OWNED SUBSIDIARY OF THE COMPANY FOR A TOTAL CASH PURCHASE CONSIDERATION OF RM116,185,497.12 ("PROPOSED LAND ACQUISITION")

________________________________________________________________________________________________________

We refer to your Company's announcement dated 30 April 2018 in respect of the aforesaid matter.

In this connection, kindly furnish Bursa Securities with the following additional information for public release:-

1.        Whether any valuation was carried out on the Land, if so, the name of the independent registered valuer, date and method of                   valuation and quantification of the market value, and the time and place where the valuation report may be inspected.

2.         The expiry date of the lease on the Land.

3.         The breakdown of sources of funding for the Proposed Land Acquisition between internally generated funds and bank                              borrowings.

4.         The total cost of the land reclamation and development of the terminal expansion ("Development").

5.         The expected commencement and completion date of Development.

6.         The sources of funds to finance the total cost of the Development.

7.         Whether relevant approvals for the Development  have been obtained and date(s) obtained.

8.         Whether the Proposed Land Acquisition is subject to the approvals of the relevant government authorities and the estimated                    time frame for submission of the application to the relevant authorities.

9.         The estimated time frame to complete the Proposed Land Acquisition.

 Please furnish Bursa Securities with your reply within one (1) market day from the date hereof.

Yours faithfully

TAN YEW ENG
Vice President, Issuers
Listing, Regulation

TYE/NMA

Cc : Market Surveillance Dept., Securities Commission (via fax)

We refer to the Company's announcement dated 30 April 2018 and the query from Bursa Malaysia Securities Berhad dated 3 May 2018 ("Query") in relation to the same.

 

The Company wishes to provide the following additional information pursuant to the Query.

 

Please refer to the attachment for the details.

 

This announcement is dated 4 May 2018.


 


ATTACHMENT

- Reply To Bursa-clean.pdf

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